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EMILIA ROMAGNA FACTOR S.p.A.
Story
Shareholders
BPER Group
What is factoring
With recourse factoring
Non recourse factoring
Export factoring
Maturity factoring
Advantages for the company
Contacts
Factoring: the Italian market
STORY
Emilia Romagna Factor S.p.A. was
established on 21 April 1994 with the
involvement of leading national and local
banking and industrial partners who
shared and approved its aims:
• To operate as a pluri -captive
instrument for industrial members;
• to create an association of leading
private companies and the credit
system;
• to offer a factoring product to the customers through a modern conceptof direct participation between bank and company. Since 2010 the company entered the BPER Group, that now holds the 94,403 %of the share capital.
Emilia Romagna Factor S.p.A. is registred to the Bank of Italy Financial intermediary list (ex. Art 107 of the Italian Consolidated Law on Banking).
SHAREHOLDERS
Currently BPER Factor (also Emilia Romagna Factor or Emil-Ro Factor) has a fully paid up share capital of € 36.393.940. Equity : € 81,6 million
Since July 1° 2010 BPER Banca banking group is the absolute majority shareholder of BPER Factor.
94,43%
4,64% 0,86%
BPER Banca S.p.A.
Sacmi Cooperativa Meccanici di Imola s.c.
CONAD s.c.
BPER GROUP
BPER Banca, established in1867 in Modena, is the leading company of the group. It is the sixth Italian
banking group, operating in 18 Italian regions with a network of approximately 1.300 branches and 2
million customers.
The group works in all main
market segments through
subsidiaries or joint venture :
Corporate & Investment
Banking, Wealth Management &
Insurance, Leasing, Factoring
and Consumer Credit. BPER
Banca assists customers in
foreign markets also thanks to
the work of many branches in
East Europe and South East Asia.
Since September 2011 BPER Banca is listed in the FTSE MIB, the most significant share index of the Italian Stock Exchange which includes the shares of the 40 largest Italian and foreign companies listed on the markets .
WHAT IS FACTORING
Factoring is a management support and a financial
technique, focussed on meeting the needs of managing
companies’ supply credit.
Factoring involves different services:
• administration, management and
collection of receivables
• measurement of the customer's
reliability
• advance payment of receivables before
due date
• legal assistance during the recovery of
receivables
• guarantee of successful transactions
Factoring is typically oriented to a lasting relationship
with the customer, rather than for one specific
transaction, so that we can assist the company in
administrative, organisational and financial functions
related to managing receivables.
FACTORING: THE ITALIAN MARKET
Factoring turnover in Italy Euro 221.597.438
Nonrecourse
Recourse
(Assifact data 31/12/2017 – euro x 1000)
63.115.362
39.504.654
29.289.056
13.244.604
12.040.955
9.888.054
8.947.409
4.607.145
4.578.474
4.403.074
3.653.420
3.320.014
3.117.849
3.020.358
2.979.852
2.448.577
2.009.986
1.767.006
1.375.955
1.312.178
1.209.948
1.117.347
892.246
859.197
808.461
677.206
517.616
407.437
361.700
122.299
MEDIOCREDITO ITALIANO
UNICREDIT FACTORING
IFITALIA
FACTORIT
BANCA IFIS
FIDIS
UBI FACTOR
SACE FCT
MPS L&F
MBFACTA
EMIL-RO FACTOR
SG FACTORING
GE CAPITAL FUNDING SERVICES
BANCA FARMAFACTORING
CREDEM FACTOR
CRÉDIT AGRICOLE EUROFACTOR
BANCA SISTEMA
BCC FACTORING
FERCREDIT
FACTORCOOP
AOSTA FACTOR
IBM ITALIA SERVIZI FINANZIARI
CLARIS FACTOR
ENEL.FACTOR
BARCLAYS BANK
SERFACTORING
BANCA CARIGE
BURGO FACTOR
GENERALFINANCE
BANCO DI DESIO E DELLA BRIANZA
WITH RECOURSE FACTORING
Factoring with recourse concerns a product with a
mostly financial content that allows customers to be
able to have additional or alternative credit lines
compared to a self-liquidating bank loan.
The activity consists of the continuous assignment
to BPER Factor of repetitive receivables arising
from the supply of goods or services claimed in
respect of solvent customers.
The service requires the assignment to BPER Factor
of all receivables claimed towards assigned
customers and the assignment of more than one
customer simultaneously.
Different situations in relation to the specific
risk conditions can be also considered.
By accessing the with recourse service the
customer/supplier gets an initial assessment,
monitored for the duration of the relationship, of
each transferred customer, the administrative
management of receivables starting from issuing
an invoice to the collection and the financial
advance of receivables.
NON RECOURSE FACTORING
The non recourse service provides for
BPER Factor taking the risk of non-payment of
receivables by assigned debtors.
BPER Factor guarantee is limited to a revolving
credit line previously granted to each debtor.
BPER Factor, at its own expensed, performs all
the activities related to the recovery of the
unpaid guaranteed receivables, either in or out of
court.
If no financial advance is requested, BPER Factor
offers the "only guarantee " service. In this case
the Debtor does not receive any communication of
the assignnment; the Supplier will follow directly
the collections, informing BPER Factor only of
those delayed payments which exceed a fixed
time frame, for the purpose of the recovery.
EXPORT FACTORING
The non recourse service is
also applicable to foreign
credits except for limitations
imposed by the legislation of
the Debtor's country of
residence.
BPER Factor works with
several foreign countries,
both directly and through
local correspondents, this
way succeeding to offer
high expectations for the
service provided to its
Clients.
A dedicated team of experts and the consolidated collaboration with an international receivables
insurance company allow us to offer our customers a quick assessment service of debtors and the
administrative management of collections that includes also any recovery actions in or out of court.
MATURITY FACTORING
Maturity is an interesting operating techniquethat is applicable both to with recourse and non recourse
factoring. BPER Factor pays directly the receivables to the Supplier at their original due date. Thanks
to specific agreements, BPER Factor follows the collections directly from the Debtor.
The Supplier has in this way the
certainty of its cash flow and, in case of
non recourse, of the collection too.
Maturity is often matched to a further
extension period granted to the Debtor
in addition to the one already agreed
with the Supplier.
This additional extension period is
previously agreed in relation to length
and cost so that the payment effected by
the debtor includes both the amount of
capital and interests.
capital and
ADVANTAGES FOR THE COMPANY
BPER Factor services enable companies to achieve immediate and significant benefits: • competent evaluation of Italian and foreign customers • elimination of the risk of non-payment of non recourse assignments • Planning and optimization of cash flow and treasury • Management of credits and collections transforming fixed costs into variable ones • increase of its financial capacity monetizing receivables • increase of business development by reducing the risks
SALA CONSIGLIO
Photographic reproductions were taken from Emilia Romagna Factor S.p.A. head office.
On the cover, a painting by G. Cavallini that represents the task of factoring. The painting is owned by Emilia Romagna Factor and is exposed at the head office of Strada Maggiore.
www.emilro.it - [email protected]
Emilia Romagna Factor S.p.A.
Strada Maggiore, 29 – 40125 Bologna (Italy)
Tel. +39 051 6482111 – Fax +39 051 267557